IRSA Inversiones y Representaciones S.A announces its results for the first quarter of Fiscal Year 2025 ended September 30, 2024

BUENOS AIRES, Argentina, Nov. 6, 2024 /PRNewswire/ -- IRSA Inversiones y Representaciones S.A. (NYSE: IRS; BYMA: IRSA), the leading real estate company in Argentina, announces today its results for the first quarter of the Fiscal Year 2025 ended September 30, 2024.

HIGHLIGHTS

• The net result for the first quarter of fiscal year 2025 recorded a loss of ARS 109,135 million compared to a gain of ARS 250,538 million in the same period of the previous year, mainly due to the loss recorded due to changes in the fair value of investment properties. This is an accounting effect that does not involve cash movements.
• Real tenant sales in Shopping Centers recovered slightly compared to previous quarters, although they fell 12.1% compared to the first quarter of fiscal year 2024. The adjusted EBITDA of the segment reached ARS 41,116 million, in line with the same quarter of the previous year.
• The average occupancy of the premium office portfolio rose to 97.9% in the quarter mainly due to the improvement in the occupancy of Dot Building.
• The Hotels segment reduced its income and occupancy levels in the first quarter of fiscal year 2025 compared to 2024 due to lower exchange competitiveness in Argentina.
• During the quarter we acquired a property adjacent to the Alto Avellaneda shopping center for its future expansion for USD 12.2 million and subsequently, we sold an additional floor of the Della Paolera 261 building for USD 7.1 million.
• On October 28, 2024, the Shareholders' Meeting approved the distribution of a cash dividend of ARS 90,000 million (dividend yield 8%) and own shares in the portfolio, representing approximately 3.6% of the stock capital.

The Company's market capitalization as of September 30, 2024, was approximately USD 850 million. (74,689,314 GDS with a price per GDS of USD 11.38).

IRSA Inversiones y Representaciones S.A. (NYSE: IRS, BYMA: IRSA), the Argentina's largest, most well-diversified real estate company, cordially invites you to participate in its IQ FY 2025 Results Conference Call on Thursday, November 7, 2024, at 9:00 AM US Eastern Time / 11:00 AM BA Time.

To access the Webinar:
https://zoom.us/webinar/register/WN_lu10OyeLSwynigZM4LyFeQ#

Webinar ID: 924 0981 1991

Password: 525894

In addition, you can participate communicating to this numbers:
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Chile:  +56 22 573 9305 or +56 23 210 9066 or +56 232 938 848 or +56 41 256 0288 or +56 22 573 9304

Investor Relations Department.
+ 5411 4323-7449
ir@irsa.com.ar

https://www.irsa.com.ar/home-inversores.php?lng=en

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SOURCE IRSA Inversiones y Representaciones S.A.